No extra time for PPC units sale, advisor HSBC informs

Prospective buyers taking part in the main power utility PPC’s bailout-required disinvestment of lignite units will need to submit their binding offers by the sale’s current January 23 deadline, at 12 pm, the procedure’s financial advisor HSBC has informed, dispelling rumors of a new deadline extension, energypress has understood.

Even so, participants will most likely remain adamant and request additional time as a number of matters concerning the disinvestment remain unclear. These include the outcome of a voluntary exit plan for employees at two power stations, Megalopoli and Meliti, included in the sale, and PPC’s ongoing negotiations with the owners of the Ahlada lignite mine, feeding the Meliti power station, for a lower supply price and longer supply agreement.

A comprehensive post-bailout review of Greece’s reform commitments is currently in progress. Keen for approval from the country’s lenders for the ongoing PPC disinvestment, the government will avoid taking any initiatives that could make it accountable for any further delays of the sale effort.